Governor touts 2024 Legislature successes that can help businesses

If we decide we want it, we can do it.

That’s the attitude Gov. Michelle Lujan Grisham brought to an address she gave at the Sandia Golf Club on Tuesday on progress from the 2024 Legislature.

City and state elected officials sat alongside business leaders and listened to her speak on the economy, the environment, education, public safety and health care. Lujan Grisham threaded connections on how the state thriving in those areas can help businesses excel as well.

“This is a state that was born to lead,” Lujan Grisham said.

Terri Cole, president and CEO of the Greater Albuquerque Chamber of Commerce — the host of Tuesday’s event — told the Journal a lot of issues have to be addressed in order to create a vibrant economy. She said the governor is aggressive, which is exactly what businesses in the state need right now.

“She demonstrated to the audience today that she understands what the problems are, and she intends to do something about them,” Cole said.

So far, Lujan Grisham has signed four of 72 total bills lawmakers sent to her desk. She told the Journal this timeline is all part of the process.

“We’re on track,” she said. “It’s not a signal that we’re not interested in signing the vast majority of those bills.”

She said her office is trying to organize public bill signings so community members and advocates can be involved, which means a lot of the work gets crunched together.

Her office has bills earlier this year than usual, she said. Lujan Grisham said enrolling and engrossing, a legislative process of sending bills from the Roundhouse to the governor, usually takes longer, but she already has most of the bills on her desk.

That means, she said, her legal and editorial teams can go through the legislation, then she can make a final decision.

It all comes down to business

Lujan Grisham in her address praised New Mexico for leading the nation in many business-related sectors, like job growth, wage growth, manufacturing growth and overall economic growth.

She also pointed out infrastructure needs the state still needs to tackle.

She said housing needs to be a priority. Lujan Grisham thanked lawmakers for the work they got done, including setting aside $200 million for housing. However, she said the state probably needs another 30,000 houses in the next year. Lujan Grisham said the state won’t get quite that many, but it should create a system to accomplish the goal.

She described housing as an investment for everyone — “New Mexicans, people coming here and future generations.”

“That really is frankly an existential threat now to be able to maintain our economy,” she said.

Similarly, she said the roads need to be fixed. Lawmakers this session approved over $1 billion for infrastructure needs, including more than $500 million to build and improve roads.

Lujan Grisham said the state could spend $1 trillion on roads. Next legislative session, she said, lawmakers need to figure out a “robust road fund situation.”

“It really has to get done,” she said. “We’re at that place where if we don’t do it, we’re going to stall economic growth and opportunity.”

The governor also touted efforts that passed she believes will positively impact businesses.

She said manufacturing tax credits that passed the Legislature will allow New Mexicans to take advantage of state and federal tax credits.

“As all states are competing for advanced manufacturing, and frankly, advanced energy manufacturing, why wouldn’t New Mexico be the most competitive state?” she said.

She also pointed to energy tax credits, including for geothermal and solar efforts as well as electric vehicles that lawmakers approved. Those credits can both help the public and the environment, she said.

“It’s a much bigger tax set of incentives than they were last year, showing again that we’re building on the areas that both meet one set of goals but create economic development opportunities, both from consumers and retailers,” she said. “It should be mutually beneficial, and in this case, it most certainly is.”

Also on the environment , she said the Land of Enchantment Legacy Fund, which has $350 million for conservation efforts, will create outdoor economic investments in New Mexico while also helping the state meet climate goals.

For working parents, Lujan Grisham said the state is moving toward universal child care. She also said universal child care and free college are some of the top draws for companies to relocate to New Mexico and stay here.

The Legislature increased the distribution of the early childhood education and care program fund by $95 million for fiscal year 2025.

“The more high quality, world class child care centers we build and put together, the more kiddos who are gonna have universal access, the better this state will be economically,” Lujan Grisham said. “And if you don’t think workers and businesses aren’t interested in that, make no mistake, they are.”

On the same front, Lujan Grisham highlighted money lawmakers passed for a literacy institute; there’s $30 million in the capital outlay package for the new initiative. Lujan Grisham said building up infrastructure for that will act as an economic driver as construction crews are paid and fed in New Mexico.

A special session?

Lujan Grisham said earlier this month she’s considering convening a special session focused on public safety. That announcement came after many of her gun bills and priorities didn’t make it through the Legislature, stalled in committee or on the floors.

She told the business leaders on Tuesday she’s still not sure if there will be a special session.

“You’ll know when I know. I don’t know,” she said. “I think there’s a lot more to do.”

Like she said after the session, Lujan Grisham repeated that she wants movement on bills that address criminal competency and enhance criminal penalties.

In general, she said the Legislature won’t hit everything every session, but elected officials will understand work that needs to happen.

“If we get everything, we probably weren’t working hard enough to try to get enough done,” she said.